$16+ Billion Global Security as a Service Industry up to 2025-Rising Web Safety and E-mail Safety Demand

prnewswire | September 01, 2020

The "Security as a Service Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering. The global Security as a Service market is projected to grow at a CAGR of 19.52% to reach a value of US$16.239 billion by 2025 from US$5.572 billion in 2019. There has been an increase in the number of security breaches over the past few years and has led to severe losses to the end-user industries such as BFSI, and Communication and Technology among others. This has led to an increase in the concerns among the end-users and is forcing them to adopt advanced approaches to secure their infrastructure from attacks. Security as Service providers includes the different security services companies dealing in cloud security services, data security services, ransomware protection services, and e-mail security services among others.

Spotlight

In the 2011 report, Cisco claimed that IoT is about to change ourselves and everything that we know to be true6. This was a clear indication of a hype that typically surrounds introduction of a new technology. Today the forecasts and discussions on IoT seem to be more conservative. For instance, in 2015, IDC predicted the IoT market size would be $1.29 trillion in 2021. In 2017, they reevaluated the prediction and now estimate the IoT market to be $1 trillion in 2021. The leveling off can be explained by a more realistic outlook and recognition that the further penetration of IoT devices and solutions is limited by the lack of security, universal standards, and outdated business and IT structures.

Spotlight

In the 2011 report, Cisco claimed that IoT is about to change ourselves and everything that we know to be true6. This was a clear indication of a hype that typically surrounds introduction of a new technology. Today the forecasts and discussions on IoT seem to be more conservative. For instance, in 2015, IDC predicted the IoT market size would be $1.29 trillion in 2021. In 2017, they reevaluated the prediction and now estimate the IoT market to be $1 trillion in 2021. The leveling off can be explained by a more realistic outlook and recognition that the further penetration of IoT devices and solutions is limited by the lack of security, universal standards, and outdated business and IT structures.

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DATA SECURITY

Palo Alto Networks and PwC Join Forces to Boost Cybersecurity Defenses

prnewswire | October 29, 2020

Palo Alto Networks, the global cybersecurity leader, and PwC today announced an expanded partnership to deliver managed detection and response (MDR) services to joint customers. The offering combines MDR services delivered by PwC — Managed Cyber Defence — and Cortex XDR™ by Palo Alto Networks. Together, customers can take advantage of a state-of-the-art managed threat hunting, protection, detection and response service from anywhere, globally. The Managed Cyber Defence service fuses the power of PwC's global threat intelligence, thousands of hours of incident response expertise, and advisory services with Cortex XDR, the industry's first fully integrated detection and response platform, to provide a unique level of protection with unrivaled visibility and detection capabilities. As a result, security teams can significantly reduce attack dwell time, down to minutes, and manual day-to-day security operations workloads by up to 90%, elevating organizations to a mature security posture. According to Christina Richmond, vice president of Worldwide Security Services research at IDC, "The evolving threat landscape has forced organizations to mature their security capabilities, creating opportunities for PwC to elevate their offerings and provide a blending of managed security/MDR and professional security capabilities." Built to cater to organizations of any size, in any industry, PwC's Managed Cyber Defense reduces response times from what typically takes days to minutes, minimizing the likelihood of an emerging threat manifesting as a breach. Detection of emerging attacker behaviors and pivoted attack scenarios put organizations on a path to proactive defense against "the unknown," while extending protection across on-premises, cloud, virtualized and IoT environments. Cortex XDR is the industry's first extended detection and response platform that runs on integrated endpoint, network, cloud and third-party data to reduce noise and focus on real threats. By combining Cortex XDR with MDR services, customers can relieve the day-to-day burden of security operations and achieve 24/7 coverage, from alert management and investigation to incident response. Colin Slater, cyber security partner at PwC UK, had this to say: "Our unique market insight and trusted relationships with our clients makes us best placed to advise on their cyber challenges. Using this in-depth knowledge, we have meticulously created a service offering to address our clients' pain points. We are excited to work with Palo Alto Networks as the market demands new ways to do detection and response. COVID-19 has spurred a move to remote work at a scale that has left many businesses more vulnerable than ever to cyberattacks because they are less able to respond and recover remotely. PwC's cybersecurity team has responded to several major incursions from nation-state threat groups and mitigated cyber breaches caused by vulnerabilities introduced through transitions to remote work at scale. Preventing these attacks is a core element of the PwC and Palo Alto Networks approach." Shailesh Rao, senior vice president for Cortex at Palo Alto Networks, offered: "We are thrilled to expand our partnership with PwC through the delivery of best-in-class managed detection and response (MDR) services powered by Cortex XDR to our joint customers. More and more enterprise customers have validated PwC's service over the last year in detecting and responding to cyberattacks. The combination of advisory services, analytics, and modern, AI-driven detection and response capabilities and metrics, with visibility across an enterprise's entire infrastructure, is made possible by our unmatched joint Cortex XDR and MDR service offering." About PwC At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services. About Palo Alto Networks Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Our mission is to be the cybersecurity partner of choice, protecting our digital way of life. We help address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, we are at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. Our vision is a world where each day is safer and more secure than the one before. Palo Alto Networks, Cortex, and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.

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Genus Power and NanoLock Security Partner to Secure Smart Meters and Prevent Utility Cyberattacks and Fraud

prnewswire | October 20, 2020

NanoLock Security, the market leader of ironclad protection for smart metering infrastructure, IoT and connected edge devices, today announced a partnership with Genus Power Infrastructures, a global provider and leader of full spectrum smart energy metering solutions, to cooperate on a new cybersecurity solution that protects smart metering infrastructure, manufactured by Genus Power, from cyberattacks, theft, and fraud. The solution also provides a new managed security service for utilities and smart city customers that would reduce their operational costs, especially in remote rural areas through trusted Over-the-Air (OTA) updates, while securing revenue that is often lost due to theft and fraud.

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SOFTWARE SECURITY

Licel introduces Alice, a telemetry system that reveals the cyber threats facing apps in real time.

prnewswire | December 03, 2020

The worldwide application security organization, Licel, reported the appearance of their most recent item this week. In a universe of ever-changing dangers to application security, Alice portrays the everyday security chances that applications face. One of the results of COVID-19 has been a climb in the quantity of modern digital assaults. Programmers have hoped to misuse individuals' dependence on direction from specialists. Furthermore, 2020 has additionally observed applications take on much more noteworthy significance in an undeniably far off world. The blend of these two patterns implies that vigorous application security is as imperative as it's consistently been. However, as Licel CEO Ivan Kinash clarifies, there's additionally a developing craving from organizations to comprehend what the most hazardous digital dangers are. "App protection products such as our own, DexProtector, do a fine job of protecting apps from bad actors. But this year we've also seen an increase in demand for a sophisticated, real-time platform that allows businesses to respond to attacks quickly. For some companies, their app is now their most important asset. And as such, it's crucial for them to know how the threat landscape around that app is evolving."

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